Companies like Pantone create standardized colors that help extend our color vocabulary across a variety of artistic industries. Two of those industries are fashion and interior design, and they’re interconnected.

Emerald fits another over-riding trend for 2013: A longing for luxury.

The Wizard of Oz would be green with envy. That icon of the Emerald City undoubtedly would agree it’s the perfect shade. So would the residents of “Downton Abbey.”

That may explain our American infatuation with “Downton Abbey,” the opulent British costume drama set in an immense Victorian mansion. Coincidentally, the Earl of Grantham’s drawing room wall covering is a rich almost-emerald green.

But the 2013 Color of the Year? How much Emerald can one real-life home hold?

Trend forecaster Pantone Color Institute picked Emerald – a rich bluish green – as its must-have, go-to hue for fashion and home decor. It’s a color-wheel 180 from Pantone’s 2012 Color of the Year, Tangerine Tango, and has drawn strong reaction from interior designers and home experts.

Designers comment on Emerald, the Pantone color of the year

“I love the idea of emerald in our interiors,” said Sacramento interior designer Kerrie Kelly, noting that her name does give her an inclination toward green. “When using green, you can go bold with a wall or drapery treatment or keep it quiet by using it to simply accent a space through pillows and accessories. Any lacquered piece in emerald green is sure to be a showstopper.”

“What were they thinking?” said Mary Lawlor, manager of color marketing for San Carlos-based Kelly-Moore Paints. “That pick is causing quite a stir. Pantone is the industry leader, but … it’s somewhat bizarre.

“It’s kind of difficult to put it back into the home,” Lawlor added. “For many people, it’s a flashback to your parents’ living room and big green couch.”

“Green is the most abundant hue in nature,” said Leatrice Eiseman, Pantone’s executive director. “The human eye sees more green than any other color in the spectrum.

“As it has throughout history, multifaceted emerald continues to sparkle and fascinate,” Eiseman said. “Symbolically, emerald brings a sense of clarity, renewal and rejuvenation, which is so important in today’s complex world. This powerful and universally appealing tone translates easily to both fashion and home interiors.”

Emerald already has popped up on runway shows for major fashion designers such as Zac Posen. Makers of home fabrics and furnishings also have jewel-hued greens, ready for consumers.

“There’s been a reserved excitement around green recently,” said Gina Shaw, York Wallcovering’s vice president of product development. “We see this very usable and sophisticated emerald green – as well as lighter shades of it – trending in both apparel and home fashions this year.”

Said Jennifer McConnell, Pearson Textiles vice president of design, “The look and feel of home décor is trending toward comfort and relaxation. Deep green has long symbolized prosperity and good fortune, and this elegant emerald feels particularly serene.”

A COLOR FOR EVERY YEAR

Trend forecaster Pantone Color Institute annually sets a palette for fashion and home decor, pulling from current trends, tastes and national mood. From those color swatches, Pantone names one tone as its Color of the Year.

Since picking sky-blue Cerulean in 2000 as its “Color of the Millennium,” Pantone has stuck with blue tones, choosing five different blues in 14 years (including two shades of turquoise). A lot of trend watchers thought another blue – deep ocean Monaco Blue – would be the choice for 2013, but Pantone went for deep green Emerald instead.

Over the years, some colors – such as red-hot Chili Pepper – have had more staying power than others, sticking around from several seasons. But others – such as dusky Sand Dollar – seem like a ripple on the beach, quickly fading from memory.